High target disease prevalence, increasing strategic developments such as partnerships and agreements among the top players, continuous research and development, various technological advancements in the field of medical devices, rising demand for minimally invasive procedure are key factors contributing to the growth of Visional photocoagulator market during forecast period
According to the current analysis of Reports and Data, the global visional photocoagulator market was valued at USD 135.7 million in 2018 and is expected to reach USD 229.5 Million by the year 2028, at a CAGR of 4.3%. The study covers the visional photocoagulator, a device which used for the non-invasive surgical procedure of eyes using the laser beam. The visional photocoagulator is an equipment used to treat visional disorders and to treat damaged cells present in the eye. It has great clinical significance and is a crucial therapy for numerous retinal diseases such as conditions including proliferative diabetic retinopathy, retinopathy of prematurity, retinal tears and detachments, branch retinal vein occlusion, and choroid neovascularization.
Photocoagulator cauterizes blood vessels with a high-intensity laser beam or any other source of light. The invention revolutionized retinal therapy by facilitating the more precise, reliable, and less painful application of photocoagulator. Photocoagulation can seal leaking blood vessels, as in case of diabetic retinopathy, or destroy diseased retinal tissue. Due to the effectively and non-invasive approach, the application of visional photocoagulator has become the accustomed standard of care for many retinal conditions.
Key companies profiled in the report include
Quantel Medical, Alcon, ALMA, Lumenis, NIDEK, Meridian, Iridex Corporation, Valon Lasers, Ellex Medical Lasers, and Lombart
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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Visional Photocoagulator market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Visional Photocoagulator Market Segmentation based on Types:
Application Outlook (Revenue, USD Million; 2018-2028)
- Retinal Laser Photocoagulation
- Laser Trabeculoplasty
- Iridotomy
- Iridoplasty
- Others
Clinical Condition Outlook (Revenue, USD Million; 2018-2028)
- Diabetic Retinopathy
- Age related Macular Degeneration
- Glaucoma
- Others
End Use Outlook (Revenue, USD Million; 2018-2028)
- Hospital
- Clinics
- Ambulatory Services
- Ophthalmology Centers
- Others
Further key findings from the report suggest
- Technological advancements in the field of medical devices is the key factor contributing to the market growth. In line with this, key market players are focused on strategic collaboration for product development which are well equipped with the cutting edge technology.
- Retinal laser photocoagulation is the fastest growing segment with an expected CAGR of 6.3% due to the significant increase in the target disease such as diabetes. According to WHO, the incidences are expected to rise in the middle and low income developing countries and it is one of the major cause of the blindness.
- According to the National Diabetes Statistics Report one of ten is suffering from diabetes which is nearly 9.4% of the total U.S population Moreover, new diagnosed diabetes cases of type 1 and type 2 have increased among the youth and it is further expected to increase.
- According to International Diabetes Federation in 2017, approximately 425 million adults with the age group of 20-79 years were living with diabetes and it is expected to rise up to 629 million by the year 2045. This is anticipated to boost the visional photocoagulator market during the forecast period.
- Laser Trabeculoplasty is the second largest segment in the application segment growing at the expected CAGR of 6.2% due to the rise in geriatric population in developing and developed nation. According to WHO, by 2020, the number of people aged 60 years and older will outnumber children younger than 5 year. The numbers are expected to rise especially in developing nation such as China and India therefore providing an extensive growth to the visional photocoagulator market.
- The pace of population ageing all around the world is also dramatically increasing. For instance, by 2050, there will be nearly 120 million living in developing nation such as China alone
- North America is expected to have the largest market share of 34.6%.Considering the clinical condition, according to American Academy of Ophthalmology, Diabetic retinopathy affects nearly 7.7 million Americans age 40 and older. The number of people in the United States with diabetes is increasing rapidly and it is expected to rise further. More than 29 million Americans have diabetes. Therefore, it is anticipated to positively influence the market growth during the forecast period.
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